I agree, it's absolutely and entirely bullshit and is becoming an easy sloganism that you can bash around. Where "replacing developers, engineers, and scientist with AI" really is about 'doing more with less'... or... just 'doing more, faster?'.
But it is genuinely replacing workers, in real terms. And more importantly it's replacing services, which in turn means jobs and revenue. So they too turn to electricity & automation, so they can do more... so they can remain competitive.
So uh yea, I 100% agree with you there, and wish that more people saw straight through it like you do.